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 Dubai Debacle

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Join date : 2009-10-19

PostSubject: Dubai Debacle   Wed 02 Dec 2009, 1:14 pm

Fascinating slideshow on the impact of the downturn in Dubai
http://www.laurengreenfield.com/index.php?p=WC45SGS7

Looks like the Globalist ran the same scam in Dubai as they did elsewhere: provide lots of really cheap capital, promote frivolous development and extreme debt loads on people/companies that are at-risk, then pull the plug allowing it all to crumble that the bankers (creditors) can take over the country by pressuring the government to "bail-out" the defaulted loans, putting the entire country under ridiculous and unsustainable debt loads.
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